Rosa Margarita

Update on Rosa Margarita

Sra. Rosa lives in the town of Ticuantepe with her husband and children. She dreams of having a decent home and that her finances will improve. She has a business where she sells groceries, soft drinks, etc. With this new loan she will be able to expand her inventory in order to satisfy her customers’ demands. In addition to her grocery business, she also sells meals in the afternoons. She is grateful for the support Afodenic has provided to her and for Kiva funding.

Previous Loan Details

Rosa lives in the town of Ticuantepe together with her family. Her plans for the future are to improve her financial situation. For several years she has had a business selling groceries, fast food, and natural soft drinks, among other products. This has provided for daily sustenance.
She i...
More from Rosa Margarita's previous loan »

Additional Information

About AFODENIC

This loan is administered by AFODENIC, La Asociación para el Fomento al Desarrollo Nicaragua, a Kiva Field Partner based in Managua, Nicaragua. Founded in 1999, AFODENIC was created to promote the socio-economic and cultural development of sectors that are excluded from commercial banking. Integrating economic and human resources, AFODENIC offers affordable and adaptable financial services aimed at strengthening the family unit of their clients, who include students, producers, and micro- and small entrepreneurs from rural and urban areas. AFODENIC is a socially responsible institution engaged in society and making a positive impact on its professional partners and communities.

Supporting a borrower through AFODENIC contributes to the pursuit of innovation in mitigating poverty in Nicaragua. Visit AFODENIC’s partner page for more information.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.